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Highlights
Treasury Backs Off on Discretionary Trusts, But There Is a Catch
Some welcome news arrived from Treasury this month, with the Government softening its proposed treatment of discretionary family trusts. However, there are still some important catches, and we are not recommending that clients make any changes just yet. What was originally proposed? As part of the 2026–27 Federal Budget, the Government announced that from 1 July 2028, trustees would generally be subject to a minimum tax rate of 30% on taxable income of discretionary trusts. T
Josh Tilley
Sep 29
Small Business CGT Concession Expanded – $2 Million Turnover Threshold Increasing to $10 Million
There is some very welcome news for Australian business owners, with the turnover threshold for one of the key Small Business Capital Gains Tax (CGT) concessions increasing from $2 million to $10 million from 1 July 2027. For many growing businesses that have previously been too large to access this concession under the turnover test, this is a significant change. What is changing? Australia currently has four Small Business CGT concessions that can substantially reduce, defe
David Tilley
Sep 29
EV Tax Break Is Changing – What You Need to Know
The generous Fringe Benefits Tax (FBT) exemption for electric vehicles is set to change, with the Government releasing draft legislation that will progressively wind back the concession. For business owners and employees considering an electric vehicle, the timing and value of the vehicle will become increasingly important. What is the current concession? Under the current rules, an eligible electric vehicle can generally be provided to an employee without paying FBT, provide
Josh Tilley
Sep 29
Treasury Backs Off on Discretionary Trusts, But There Is a Catch
Some welcome news arrived from Treasury this month, with the Government softening its proposed treatment of discretionary family trusts. However, there are still some important catches, and we are not recommending that clients make any changes just yet. What was originally proposed? As part of the 2026–27 Federal Budget, the Government announced that from 1 July 2028, trustees would generally be subject to a minimum tax rate of 30% on taxable income of discretionary trusts. T
Josh Tilley
Sep 29
More Room to Grow Your Super: New Contribution Caps from 1 July 2026
There is positive news for individuals looking to build their retirement savings, with several important superannuation caps increasing from 1 July 2026. The annual concessional contributions cap has increased to $32,500, while the non-concessional contributions cap has increased to $130,000. Eligible individuals may also be able to contribute up to $390,000 under the bring-forward rules. The general transfer balance cap has also increased from $2 million to $2.1 million. The
David Tilley
Jul 28
Negative Gearing is Changing: How the New Rules Could Affect Property Investors
The Government’s changes to negative gearing for residential property have now become law. From 1 July 2027, rental losses from many established residential properties acquired after Budget night will no longer be immediately deductible against salary, business income or other investment income. Instead, affected rental losses will generally be quarantined and carried forward for use against certain residential property income or gains. The changes may significantly affect th
Josh Tilley
Jul 28
Major Capital Gains Tax Changes from 1 July 2027: What You Need to Know
The Government’s significant changes to Australia’s capital gains tax rules have now become law. From 1 July 2027, the existing 50% capital gains tax discount will generally be replaced with an inflation-based indexation system for individuals, trusts and partnerships. A new minimum tax rate of 30% will also apply to certain capital gains made by individuals. These changes may significantly affect the tax payable when selling investment properties, shares, businesses and othe
Josh Tilley
Jul 28
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